1980 (10) TMI 1

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... he following question of law to this court for its opinion : " Whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding that the order imposing penalty on the assessee-firm was illegal on the ground that it was barred by limitation, having regard to the provisions of section 275 of the Income-tax Act, 1961, as amended by section 50 of the Taxation Laws (A .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... 9th December, 1969, and, in view of the provisions of s. 275 of the Act prescribing the period of limitation, the order passed by the IAC on 22nd January, 1972, was barred by time and hence illegal. The Tribunal upheld this preliminary objection and cancelled the penalty imposed by the IAC. Aggrieved by this order, the Department submitted an application for making a reference, but that applicati .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X